气候变化领域集成服务门户(CCPortal): Using green finance to counteract the adverse effects of COVID-19 pandemic on renewable energy investment-The case of offshore wind power in China

CCPortal

DOI	10.1016/j.enpol.2021.112542
	Using green finance to counteract the adverse effects of COVID-19 pandemic on renewable energy investment-The case of offshore wind power in China
	Tu Q.; Mo J.; Liu Z.; Gong C.; Fan Y.
发表日期	2021
ISSN	0301-4215
卷号	158
英文摘要	The outbreak of COVID-19 pandemic has increased the production costs of renewable energy facilities and undermines the profitability of renewable energy investment. Green finance polices, e.g. carbon pricing, tradable green certificate (TGC) and green credit, can provide low-cost finances and counteract the adverse effects of COVID-19 pandemic. In this work, the generation costs of offshore wind power before and after the COVID-19 pandemic in China are analyzed using the data of 97 offshore wind power projects implemented in the period of 2014–2020, and the effect of green finance policy on the generation cost and the project profitability are evaluated. The results show that the average levelized cost of electricity (LCOE) of offshore wind power decreased from 0.86 CNY/kWh in 2014 to 0.72 CNY/kWh in 2019, while it increased to 0.79 CNY/kWh in 2020, i.e. 10.85% increase relative to that in 2019. With the average carbon price of 50 CNY/t CO2, the average TGC price of 170 CNY and the green-credit policy being introduced, the average LCOE decreases to 0.76 CNY/kWh, 0.67 CNY/kWh and 0.74 CNY/kWh respectively. The green finance policy mix is still necessary to support the offshore wind power investment during the Covid-19 pandemic. © 2021 Elsevier Ltd
英文关键词	China; COVID-19 pandemic; Green finance; Offshore wind power; Renewable energy
语种	英语
scopus关键词	Carbon; Investments; Offshore oil well production; Profitability; Wind power; Adverse effect; China; COVID-19 pandemic; Finance policy; Generation cost; Green finance; Off-shore wind power; Renewable energies; Renewable energy investments; Tradable green certificates; Costs; alternative energy; COVID-19; investment; offshore structure; PANDEMIC; power generation; wind power; China
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/256566
作者单位	School of Finance, Tianjin University of Finance and Economics, Tianjin, 300222, China; Center for Energy & Environmental Policy Research, Institutes of Science and Development, Chinese Academy of Sciences, Beijing, 100190, China; School of Economics and Management, Beihang University, Beijing, 100191, China
推荐引用方式 GB/T 7714	Tu Q.,Mo J.,Liu Z.,et al. Using green finance to counteract the adverse effects of COVID-19 pandemic on renewable energy investment-The case of offshore wind power in China[J],2021,158.
APA	Tu Q.,Mo J.,Liu Z.,Gong C.,&Fan Y..(2021).Using green finance to counteract the adverse effects of COVID-19 pandemic on renewable energy investment-The case of offshore wind power in China.Energy Policy,158.
MLA	Tu Q.,et al."Using green finance to counteract the adverse effects of COVID-19 pandemic on renewable energy investment-The case of offshore wind power in China".Energy Policy 158(2021).